8. Credits for Energy-Saving Improvements
Although smart-homes might sound way too expensive for you, Uncle Sam encourages those who want to take this path by rewarding them with a tax credit. Installing several energy-efficient tools and equipment in your house will come with some benefits for sure.
For instance, you’ll be able to save up to 30 percent on any systems that use solar. For each one-half kilowatt of capacity, the credit will give you $500. Energy-efficient doors, insulation, heating, roofing, and air-conditioning systems are also qualified for this tax credit.
To calculate the amount of money, use Form 5695 and then claim the money on line 5 of Schedule 3, Form 1040.
